Updated from 12:06 p.m. EDT
Shares of Quicksilver Resources (KWK Quote) were among the NYSE's winners Wednesday, jumping 6.5% after the exploration and production company announced a deal to sell its assets in Michigan, Indiana and Kentucky to BreitBurn Energy Partners(BBEP Quote).
Quicksilver will receive $750 million in cash and about 21.348 common units of BreitBurn, a California-based exploration and production outfit. BreitBurn has the option to increase the cash portion of the deal at closing and reduce the number of common units issued based upon a fixed unit value of $32.79, representing total consideration of $1.45 billion. Shares of Quicksilver closed up $2.71 to $44.39, while BreitBurn units added 17 cents, or 0.5%, to $32.37.
Elsewhere, Mattel (MAT Quote) shares were on the rise as the toymaker's CEO attempted to mitigate damage from a recent string of recalls. CEO Robert Eckert, speaking to the Senate Appropriations subcommittee, apologized for the incidents and promised to improve toy safety, according to the Associated Press. ...
Recent Comments
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,285.97 | 1,091.93 | 2,172.99 | 33.92 |
Oil *
75.40
|
|
DOWN
104.14
|
DOWN
11.32
|
DOWN
16.62
|
DOWN
0.56
|
10 Yr
3.39%
SPDR Gold
110.95
|
|
-1.00%
|
-1.03%
|
-0.76%
|
-1.62%
|
Data delayed 20 minutes |
Connect with TheStreet